Flash Deals Site NoMoreRack Raises $12M, Hits 5.8M Members

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Back in July, we caught up with New York-based startup NoMoreRack, a flash sales site that, unlike some of the most popular players in the space, isn’t relying on luxury products or fashion to drive traffic. Instead, the young startup offers everyday products at reduced prices — an average of 70 to 80 percent off everything from consumer electronics to clothing — in an effort to become the Walmart or Target of deals.
While there’s been a lot of consolidation in the flash sales and deals spaces over the last year, NoMoreRack has been moving in the other direction. In Jul
(IT news)

Zulily, a private-sale shopping site targeted at busy moms and their kids, has raised $85 million in Series D funding led by Andreessen Horowitz. Fortune reported that the site, which launched in 2009, was valued at $1 billion.